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Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Lexus ES350 confirmed for Kentucky production starting in 2015

Following Thursday's report, Toyota has confirmed that production of the Lexus ES will move to its Georgetown, KY assembly plant starting in 2015. To accommodate the extra 50,000 units of capacity that the ES represents, Toyota will be investing $360 million in the plant and hiring 750 new workers.
In the previous report, sources stated that the state of Kentucky had offered Toyota as much as $146.5 million to move ES production to the Georgetown facility.
The press release, posted below, specifies that only the ES350 will be built in Kentucky, so it's likely that the ES300h hybrid will continue to be built in Japan - where all ES models have been built since the car was introduced in 1989. Toyota's Georgetown plant, which currently builds the Toyota Camry, will also be getting an expansion to its engine plant to produce more four-cylinder engines at a cost of $30 million and will create an additional 80 jobs.

2016 Lexus ES shows updated, US-spec face

Lexus debuted the refreshed style for the ES at the Shanghai Motor Show with a much more prominent take on the company's spindle grille. If you hoped the conspicuous schnoz might be toned down for the US version of the luxury sedan, we have some bad news. The US-spec 2016 Lexus ES looks exactly the same. The spindle grille stands as one of the most polarizing styling features on new vehicles today. Rather than soften things, Lexus' designers make the shape even more pronounced for the refreshed ES. The latest take removes the crossbar from the center and outlines the whole thing in chrome. More angular, standard LED headlights make the edges appear even sharper, as do the triangular foglight surrounds at the lower corners. At the back, the taillights feature a more conspicuous L-shape and chrome-tipped, rectangular exhaust tips finish things off on the ES 350. The company also adds some evocatively named colors, including Autumn Shimmer, Nightfall Mica, Caviar, and Eminent White Pearl. Beyond the updated looks, the other major change for the ES is the availability of the Lexus Safety System+ suite of tech. It includes a Pre-Collision System, Lane Departure Alert with Steering Assist, Intelligent High Beam, and High-Speed Dynamic Radar Cruise Control. If all that isn't enough to make you feel more secure behind the wheel, a blind spot monitor with rear cross traffic alert is an additional option. The improvements to the interior aren't quite as drastic as the outside. There's a redesigned steering wheel, shift knob with a leather boot, and more soft-touch materials around the console. New trim colors include Linear Dark Mocha, Illustrious Piano Black, and matte-finish Bamboo. Both ES 350 and ES 300h models are unchanged in terms of powertrains. For a starting price of $38,940, after the $940 destination charge, buyers can get the ES 350 with a 268-horsepower, 3.5-liter V6 and six-speed automatic. For $41,860, customers can order an ES 300h with a hybrid, 2.5-liter four-cylinder making a total output of 200 hp. Luxury, Emboldened: Lexus ES 350 Revs Up Style and Luxury for 2016 Refreshed Look with Bolder Rendition of Lexus Spindle Grille Standard LED Headlights and Other Premium Design Features New Lexus Safety System+ Suite of Driver Assist Technologies Upgraded Interior Finishes Mark Levinson Audio and Panoramic Roof Available with All Packages July 10, 2015 Maintaining luxury leadership requires a relentless pursuit.